ROBOSIGNING

Many of you have no doubt heard about the problems facing lenders and the foreclosure process due to possible fraudulent signatures and contested accuracies in the foreclosure process.

This stems from mortgage lenders using 3rd parties (aka robosigners) to "verify" the accuracy of paperwork and attach their signature to the documents attesting to this fact when in fact they allegedly didn't verify or couldn't verify the accuracies due to the numbers of files they were processing each day.

This presents the potential for causing severe problems in the 23 states that foreclose by judicial process. Minnesota forecloses by advertisement and not judicially.

Additionally, a Mortgage Electronic Registration System (MERS) was created by the lending industry in the 1990's that attaches a number to mortgages, making them easier to track thru the system and the various paperwork shuffles. This system is legal and in use in MN and has kept our mortgage system much cleaner and without the problems many other states are experiencing.

This debacle has caused several banks to halt the foreclosure process, including stopping the sale of foreclosed homes in some instances, just before the closing happened with the hopeful buyer. Bank of America has halted their foreclosures in all 50 states and GMAC and others have also stopped foreclosing in some states. Fannie Mae and Freddie Mac are now weighing in.

The press is fanning the flames by saying some people who have purchased bank-owned homes may have their ownership called into question. As if the federal government would allow the banks to take homes back from people after they close, move-in and invest money in repairing these distressed properties. I don't know what will happen except that banks will suffer reduced share prices and the costs of fixing their processes as well as a few law suits from some who feel they have been harmed by these procedural lapses.

This too will pass.

Neighborhood Market Update

We in the Minnesota are pretty conservative - ketchup is about as spicy as many of us dare to get and we don't deviate too much from the average. Because of this, the Twin Cities real estate market hasn't seen the high highs and the low lows that much of the rest of the country has seen.

While many appear to be waiting for the economy to improve and unemployment to drop, home sales have dropped by some 40% since the April 30 end of the federal home buyer tax credit. In our neighborhood, we've had three homes sell over the past 90 days, compared to five homes sold over the past 90 days in 2009.

Foreclosures have tapered off some in the past 90 days and at least two banks (GMAC and J.P. Morgan Chase & Co.) have suspended foreclosure activity while they sort through paperwork irregularities and possible improper signatures and falsified documents used in current and past foreclosures.





Click see the current neighborhood homes for sale and sold in the past 90 days

Tree Trimming

As fall approaches, we start to think more about yard work -- not only raking leaves but also trimming our trees.
We have many experts and professionals in our neighborhood. I again spoke with Dave Strootman, neighbor and Consulting Arborist and ISA Board-Certified Master Arborist with Rainbow Treecare.

When you trim a tree, you introduce a wound and an entry point for insects. Certain trees (i.e., elms and oaks) should only be trimmed when they are dormant and others specifically should not be trimmed in the summer (white bark birch). Similarly, avoid trimming trees in wet, cool weather.

When you trim branches from the tree, there is no need to seal the cut as this can actually harm the tree and inhibit the natural callousing that the tree produces.

Some things to look for when trimming trees:
- dead branches
- structural defects
- stubs
- conflict branches

To arrange a consultation or an estimate, don't hesitate to contact Dave -- dstrootman@rainbowtreecare.com or call (952) 922-3810.

Tree-trimming isn't a difficult task for most home-owners but Dave's advice is if you have to leave the ground, call in the pros!

Expecting to Get a Variance from the City? Think Again!

A recent Minnesota Supreme Court ruling is making it much tougher to get variances approved for things like set-back requirements, distances of structures to lakeshore, etc.

"...a municipality does not have the authority to grant a variance unless the applicant can show that his/her property cannot be put to a reasonable use without the variance."

This recently played out in the September 7, 2010 Maple Grove City Council meeting where a resident was seeking a variance to extend their deck within the high water elevation of Rice Lake. Ordinarily, this request may have been approved thru common sense and reason. However, with the Supreme Court ruling, many municipalities will now likely have their hands tied and not be able to approve even simple variances.

Click here for the city minutes (scroll to page 10).

News article on the court decision

Bottineau House in Park Reserve

The Pierre Bottineau house was moved into the Elm Creek Park Reserve in August 2009 and went through a complete rehab.
The plaque at the site says it was moved from Zachary Lane but I couldn't remember seeing it on Zachary Lane in the recent past so I called and spoke with Beth Nash, with Three Rivers Park District Public Affairs.

From the Three Rivers Park District Cultural Resources Coordinator:
1852 – Pierre Bottineau stakes a claim in what will become Osseo, Minnesota.
1854 – Pierre Bottineau House is the first wood frame house built in Osseo and is erected on Section 13 of Township 119, Range 22 in what is now likely the present day athletic fields of Osseo Junior High School
1876 – Pierre Bottineau, his wife, and family move to Red Lake Falls, Minnesota. Bottineau’s children, Mary and John Baptiste Bottineau acquire the Bottineau property covering sections 11, 12, and 13
1877 – The Bottineau siblings default on mortgage payments and lose the property
1880 – John Wilmes purchases Bottineau property
1908 – Wilmes moves the Bottineau house to another location on section 13 and converts it into a granary
1919 – Wilmes sells Peter Kisch the original Bottineau property located on section 11 along with the Bottineau House. It takes Kisch one week move the house via log rollers from section 13 to section 11 (which became 9653 Zachary Lane) where the house was used for farm functions.
1998 – The Bottineau House is relocated to the City of Maple Grove storage lot south of County Highway 81 by the Minnesota Department of Transportation to allow for roadway expansion.
August 2009 - (see videos below) The house is moved to its current location in the Elm Creek Park Reserve where it was restored due to its historical significance and will be open for tours given by the park

More info at the Bottineau website







Notes: The reference to Zachary Lane comes from a "Minnesota Architecture - History Inventory Form" that is reprinted in the the Historic Structures Report completed by MacDonald & Mack. The architectural survey, conducted by Kurt Schweigert & Marcia Ohlhausen in October of 1993 and June of 1994 references the house location as 9653 Zachary Lane, Maple Grove, MN. The location on Zachary Lane falls on a straight line west from the Hwy 610/169 intersection. The eventual extension of Hwy 610 through the site was the rationale for moving the house.

Hemlock Lane Bridge Open and New Transit Station

Great news -- Hemlock Lane is again open with the new bridge over 610 complete, it should be easier for entering and exiting our neighborhood as we have an option to avoid the sometimes congested Zachary Lane. The new round-about at Zachary Lane and 101st Avenue should lessen this congestion once it's completed (see DOT concept picture below). Jefferson Highway remains closed until November. For more: MN DOT


Also, for the commuters, Maple Grove is adding another transit station at County Road 30 and Maple Grove Pkwy with outdoor parking available around October 2010 and the indoor station opening around January 2011. For more: Transit Station

Locally Owned Consignment Business

Continuing the series of showcasing our neighborhood businesses, this article is on a consignment shop owned and operated by Jeff and Sue Bufis in our neighborhood.
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We are scheduled for grand opening Sept 10 @ 5pm. Monday August 16th, we had our banners go up in front of the building. That felt good, like a final permanent and visible commitment for our store. The new signs go up this week as well.
One exciting aspect will be that our customers will be able to go online and view their balance of the items we sell!

We start accepting items Friday August 20th so clean out your closets and garage!
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If you would like to save money on re-purposed articles or have some treasures to sell, give their business a try! It's located on the corner of West Broadway and Hwy 81. Visit their website at www.ConsignmentCentralLLC.com